LOSS OR DEPRECIATION OF COLLATERAL. Each Pledgor shall promptly notify Secured Party of any event of which such Pledgor becomes aware that causes any loss or depreciation in the value of any portion of the Collateral resulting in a Material Adverse Effect.
LOSS OR DEPRECIATION OF COLLATERAL. Borrower shall immediately notify Secured Party of any event causing a material loss or depreciation in value of Collateral and the amount of such loss or depreciation.
LOSS OR DEPRECIATION OF COLLATERAL. To immediately notify Bank of any material casualty, loss or depreciation to the Collateral or to any other property of Borrower which affects Borrower's business.
LOSS OR DEPRECIATION OF COLLATERAL. In the event that any of the following events alone or in the aggregate has an adverse impact on the Borrowers in excess of $100,000, the Borrowers shall notify the Agent immediately of the occurrence of each of the following events: (i) loss or depreciation in value of Base Inventory and the amount of the loss or depreciation; (ii) rejection, return, repossession or loss of any goods giving rise to any Base Account; (iii) damage to any such goods; (iv) any request by an account debtor for credit or adjustment of an Account; (v) any adjustment by any of the Borrowers on the amount owing on an account; (vi) any merchandise or other dispute; (vii) any other event affecting Base Inventory or Base Accounts or the value or amount thereof. All loss or depreciation in value of Base Inventory shall be immediately reflected in the Net Security Value of Base Inventory, and all payments on Base Accounts and all adjustments and credits with respect thereto, whether unilateral, negotiated or otherwise, shall be immediately reflected in the Net Outstanding Amount of Base Accounts.
LOSS OR DEPRECIATION OF COLLATERAL. Each Pledgor shall promptly notify Secured Party of any event of which such becomes aware causing material loss or depreciation in the value of any portion of the Collateral.
LOSS OR DEPRECIATION OF COLLATERAL. The Borrower shall notify the Agent immediately of the occurrence of each of the following events, if such event involves an aggregate amount in excess of $100,000, and shall in any event reflect each such occurrence (without regard to amount involved) in the next regularly scheduled financial reporting: (a) loss or depreciation in value of Base Inventory and the amount of the loss or depreciation and reason or basis for such loss or depreciation; (b) rejection, return, repossession or loss of any goods giving rise to any Base Account; (c) damage to any such goods; (d) any request by an account debtor for credit or adjustment of an Account in excess of normal adjustments and credits are prompt payment; (e) any adjustment by any Loan Party on the amount owing on an Account in excess of normal adjustments and credits; (f) any merchandise or other dispute; (g) any other event affecting Base Inventory or Base Accounts or the value or amount thereof or loss or depreciation in value of Base Inventory shall be immediately reflected in the Net Security Value of Base Inventory, and all payments on Base Accounts and all adjustments and credits with respect thereto, whether unilateral, negotiated or otherwise, shall be immediately reflected in the Net Outstanding Amount of Base Accounts.
LOSS OR DEPRECIATION OF COLLATERAL. Borrower shall immediately notify Secured Party of any vent causing a material loss or depreciation in value of Collateral and the amount of such loss or depreciation.
LOSS OR DEPRECIATION OF COLLATERAL. The Loan Parties shall notify the Agent promptly of the occurrence at any time of the following event if, individually or in the aggregate, the amount involved in connection with such events exceeds $500,000: (i) loss or depreciation in value of inventory resulting from events, other than changes in the market price for such inventory, and the amount of the loss or depreciation; (ii) rejection or return of any inventory either from a customer to any Loan Party or from any Loan Party to the Seller from whom the Loan Party acquired the item of inventory; (iii) repossession, loss of or damage to any inventory; or (iv) any other event materially and adversely affecting inventory or the value or amount thereof. In the event of any loss or depreciation in the value of any Vehicle which exceeds five percent of the value of the Vehicle reflected on the most recent Borrowing Base Certificate or other report delivered to the Agent, the Loan Parties shall immediately notify the Agent of such loss or depreciation in the amount of the Vehicle affected thereby.
LOSS OR DEPRECIATION OF COLLATERAL. The Borrowers shall notify the Administrative Agent and the Lenders promptly of the occurrence at any time of the following events if, individually or in the aggregate, the amount involved in connection with such events exceeds $3,000,000: (i) loss or depreciation in value of Inventory resulting from events other than changes in the market price for such Inventory and the amount of the loss or depreciation; (ii) rejection or return of any goods giving rise to an Eligible Account to the extent such rejection or return is not in the ordinary course of business; (iii) repossession, loss of or damage to any goods giving rise to any Eligible Account; (iv) any request by an account debtor for credit, adjustment, set off or counterclaim of or with respect to an Eligible Account; (v) any adjustment by the Borrowers of the amount owing on an Eligible Account; (vi) any merchandise or other dispute related to Inventory; (vii) any material delay in the Borrowers' performance of any of their obligations to any customer if the Borrowers have an Eligible Account with such customer; (viii) any other material event affecting Inventory or Eligible Accounts or the value or amount thereof, including without limitation any event which would result in an Eligible Account or Eligible Inventory no longer qualifying as an Eligible Account or Eligible Inventory. In the event of any loss or depreciation in the per unit value of Inventory resulting from events other than changes in the market price for such Inventory and the amount of such loss or depreciation exceeds 5% of the per unit value reflected on the most recent Borrowing Base Report delivered to the Administrative Agent, the Borrowers shall immediately notify the Administrative Agent and the Lenders of such loss or depreciation and the amount of Inventory affected thereby.
LOSS OR DEPRECIATION OF COLLATERAL. The Borrower shall notify the Lender promptly (but in no event more than five Business Days) after the occurrence at any time of the following events if, individually or in the aggregate, such event is material to the Borrower and its Subsidiaries, on a consolidated basis: (i) loss or depreciation in value of Inventory resulting from events other than changes in the market price for such Inventory and the amount of the loss or depreciation; (ii) rejection or return of any goods giving rise to an Eligible Account to the extent such rejection or return is not in the ordinary course of business, (iii) repossession, loss of or damage to any goods giving rise to any Eligible Account; (iv) any request by an account debtor for credit, adjustment, set off or counterclaim of or with respect to an Eligible Account; (v) any adjustment by the Borrower of the amount owing on an Eligible Account; (vi) any dispute involving merchandise, or other dispute; (vii) any material delay in the Borrower’s performance of any of its obligations to any customer if the Borrower has an Eligible Account with such customer; (viii) any other material event affecting Inventory or Eligible Accounts or the value or amount thereof, including without limitation any event which would result in an Eligible Account or Eligible Inventory no longer qualifying as an Eligible Account or Eligible Inventory.
